Use the following information to answer questions 7 through 9: A joint production process that cost $240,000 generated two main products. P1 has 15,000 units and can be sold at the split-off point for $300,000. P2 has 25,000 units and can be sold at the split-off point for $200,000. A by-product can be sold for $30,000. a. $120,000 7. Using the net realizable value method, how much of the joint costs would be allocated to P1? b. $144,000 c. $156,000 d. $183,000 8. Using the physical quantities method, how much of the joint costs would be allocated to P1? a. $90,000 b. $120,000 c. $150,000 d. $180,000 9. If the sale value of the by-product is deducted from the joint costs of the main products, how much is Pl's share of the total costs? a. $126,000 b. $216,000 C $105,000 d. $184,000 10. The relevant data for deciding whether to process further are: Additional revenue after further processing. b. Joint costs. Additional costs of processing further. d. Both a, and c 11. Which of the following is not a service department? a. Human resources b. Accounting c. Mailroom Production ASSIGNMENT SUBMISSION Tſhen finished, make sure to click Submit. Optionally, click Save as Draft to save changes and continue working later, or click Cancel to quit withou Matching.docK O Bi O
Use the following information to answer questions 7 through 9: A joint production process that cost $240,000 generated two main products. P1 has 15,000 units and can be sold at the split-off point for $300,000. P2 has 25,000 units and can be sold at the split-off point for $200,000. A by-product can be sold for $30,000. a. $120,000 7. Using the net realizable value method, how much of the joint costs would be allocated to P1? b. $144,000 c. $156,000 d. $183,000 8. Using the physical quantities method, how much of the joint costs would be allocated to P1? a. $90,000 b. $120,000 c. $150,000 d. $180,000 9. If the sale value of the by-product is deducted from the joint costs of the main products, how much is Pl's share of the total costs? a. $126,000 b. $216,000 C $105,000 d. $184,000 10. The relevant data for deciding whether to process further are: Additional revenue after further processing. b. Joint costs. Additional costs of processing further. d. Both a, and c 11. Which of the following is not a service department? a. Human resources b. Accounting c. Mailroom Production ASSIGNMENT SUBMISSION Tſhen finished, make sure to click Submit. Optionally, click Save as Draft to save changes and continue working later, or click Cancel to quit withou Matching.docK O Bi O
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Use the following information to answer questions 7 through 9:
A joint production process that cost $240,000 generated two main products. P1 has 15,000 units
and can be sold at the split-off point for $300,000. P2 has 25,000 units and can be sold at the
split-off point for $200,000. A by-product can be sold for $30,000.
a. $120,000
7. Using the net realizable value method, how much of the joint costs would be allocated to P1?
b. $144,000
c. $156,000
d. $183,000
8. Using the physical quantities method, how much of the joint costs would be allocated to P1?
a. $90,000
b. $120,000
c. $150,000
d. $180,000
9. If the sale value of the by-product is deducted from the joint costs of the main products, how
much is Pl's share of the total costs?
a. $126,000
b. $216,000
C
$105,000
d. $184,000
10. The relevant data for deciding whether to process further are:
Additional revenue after further processing.
b. Joint costs.
Additional costs of processing further.
d. Both a, and c
11. Which of the following is not a service department?
a. Human resources
b. Accounting
c. Mailroom
Production
ASSIGNMENT SUBMISSION
Tſhen finished, make sure to click Submit.
Optionally, click Save as Draft to save changes and continue working later, or click Cancel to quit withou
Matching.docK
O Bi
O
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